Overview

Ireland’s medical technology sector is a global leader, directly employing 50,000 people, contributing €20 billion in exports and delivering life-saving technologies worldwide. There are over 450 medtech companies in Ireland, of which 80% are SME’s or start-ups, underscoring the scale of innovation-led entrepreneurial activity. With 9 of the world’s top 10 medtech companies operating here and a thriving indigenous base – the medtech sector anchors Ireland’s innovation economy.

However, global headwinds stemming from geopolitical risks to talent shortages and technological disruption, threaten our future competitiveness.

The new 15% U.S. tariff on EU medical devices is a major threat to Ireland’s medtech sector. The U.S. is our largest export market, taking 38% of medtech exports worth €7.9 billion. These tariffs introduce €1.2 billion in extra costs being applied to Irish products and exports to the US, squeezing margins and potentially limiting companies’ ability to reinvest in Irish operations. Without a targeted policy response, this trade turbulence risks undermining Ireland’s ability to compete as global medtech hub.